Form a national-level committee of economists to help guide the post pandemic economy: Experts

Experts suggested that a national-level committee of economists be formed for creating a business recovery plan that will help the economy to adapt to the new post-pandemic world.

The experts made the suggestion while adressing an international webinar on "New supply chain agility in the Post-Covid-19 Economy: Opportunities for the Start-ups and SMEs" organised by Dhaka School of Economics on Tuesday.

President of MTC global India Prof Bholanath, Programme coordinator of  Entrepreneurship economics Prof Dr Muhammad Mahboob Ali, Lecturer at School of Business and Law CQ University Australia Dr Sardana Khan, Associate Professor at GNVS Institute Of Management at Mumbai, India Dr Yashoda Durge and Professor of Marketing, Dy Dean (Academics) and Director at Amity University, Noida India Dr Sujata (Panda) Khandai were present during the session.

During the webinar, the experts stated that the coronavirus outbreak has triggered a worldwide economic disruption, forcing micro, small, medium and large companies to find ways to survive, where agility is an important factor.

They added that startups and SMEs have suffered the most due to a shortage of resources, limited number of suppliers, lower revenues and lack proper banking facilities.

During her paper presentation, Dr Sardana Khan put emphasis on supplier risk and focused on supply chain assessment and risk management to conduct a value chain assessment of other risk factors. She also said that reusing is better than recycling because it saves energy that used in dismantling and re-manufacturing products.

Prof. Dr. Muhammad Mahboob Ali said that behavioural approaches provided a welcome alternative in this situation. According to him, it helped governments of various countries find a solution to some of their most vexing problems.